Bitcoin community launches charitable foundation

BitGive is a non-profit foundation that is accepting donations and providing charitable gifts to environmental and public health causes worldwide on behalf of the Bitcoin community.

The Bitcoin community is growing fast and getting much attention. With companies such as BitPay, Inc., the leading payment processor for Bitcoin, and exchange transfer services such as BitInstant, the future of Bitcoin is bright. Events like those held over the past few months in Silicon Valley and London, and Mediabistro's "Inside Bitcoins" event today, indicate that further growth is imminent given the amount of investment interest and entrepreneurial energy surrounding Bitcoin.

"The Foundation provides the opportunity to capture some of the capital formation anticipated from the success of Bitcoin for worthy causes such as health and disease research," says Board Member, Stephen Pair.

Connie Gallippi, Executive Director of the new organization, says, "The long-term potential of the foundation is tremendous. The expected increase in value of Bitcoin will make donations grow over time, giving the foundation more financial stability and increasing funds to provide to charitable causes." With the anticipated growth in Bitcoin value, usage, and business opportunities, BitGive also anticipates an ever-growing community to provide donations, including investors and businesses with increasing profit margins related to Bitcoin and business investment gains.

BitGive's Board of Directors includes Stephen Pair co-founder and CTO of BitPay, Inc.; Patrick Murck, legal counsel at the Bitcoin Foundation; and Madeline Finch, who has a background in the non-profit foundation community. BitGive has also received support from Tony Gallippi, co-founder and CEO of BitPay, Inc. and the legal expertise of Lorri Dunsmore, Jacob Farber, and Jane Frissell at Perkins Coie, LLP.